Case Analysis Of The Relationship Between The CNPC Carbon Disclosure And Corporate Value

Since 2009 October,Premier Wen Jiabao pledged at the Copenhagen conference that 2020 carbon dioxide emissions per unit of GDP will decreased by 40%-45% in 2005,a variety of policy of our country began to fall to real point,especially carbon intensity as blinding targets,fully reflects the government’s determination to activity tackle climate change.We can expect the future of the Chinese government will assume more responsibility,the domestic construction market in carbon emission will be increasingly mature,at this time our government and the enterprise timely disclose carbon information is particularly important.This paper studied two events:the 2007 CNPC issued CSR report and set up Tianjin carbon emissions exchange,through specific business case method analysis carbon information disclosure effects on the enterprise value.Difference from other literature using multiple regression analysis and step wise regression analysis method and empirical method, this paper study the relationship between carbon disclosure and enterprise value by using the influence mechanism of the theory to the specific enterprise case analysis.Therefore,in the case analysis part,this paper analysis the status of information disclosure of China’s carbon,the carbon disclosure experience of CNPC,in the course of follow-up study,we use the event study method to study market reaction bring by CNPC carbon information disclosure,the conclusion is:CNPC carbon disclosure will increase the enterprise value.Finally,the paper puts forward the corresponding suggestions for the research of carbon information disclosure of other enterprises in China.